American International Group Inc. lessened its position in Nordstrom, Inc. (NYSE:JWN) by 33.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,600 shares of the specialty retailer’s stock after selling 25,209 shares during the quarter. American International Group Inc.’s holdings in Nordstrom were worth $2,386,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in Nordstrom by 37.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock worth $520,501,000 after purchasing an additional 2,985,551 shares during the period. BlackRock Inc. increased its holdings in Nordstrom by 1.9% during the 2nd quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock worth $390,843,000 after purchasing an additional 150,539 shares during the period. Principal Financial Group Inc. increased its holdings in Nordstrom by 7.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,967,191 shares of the specialty retailer’s stock worth $92,752,000 after purchasing an additional 136,053 shares during the period. York Capital Management Global Advisors LLC purchased a new stake in Nordstrom during the 2nd quarter worth about $75,623,000. Finally, APG Asset Management N.V. increased its holdings in Nordstrom by 6.8% during the 3rd quarter. APG Asset Management N.V. now owns 1,519,455 shares of the specialty retailer’s stock worth $71,642,000 after purchasing an additional 97,000 shares during the period. Hedge funds and other institutional investors own 57.74% of the company’s stock.
JWN has been the topic of several recent research reports. KeyCorp set a $55.00 price target on Nordstrom and gave the stock a “buy” rating in a report on Wednesday, October 11th. Robert W. Baird restated a “hold” rating and set a $50.00 price target on shares of Nordstrom in a report on Wednesday, November 1st. Royal Bank Of Canada restated a “hold” rating and set a $45.00 price target on shares of Nordstrom in a report on Thursday, October 5th. ValuEngine downgraded Nordstrom from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Cowen restated a “buy” rating and set a $50.00 price target on shares of Nordstrom in a report on Friday, November 10th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the stock. Nordstrom currently has a consensus rating of “Hold” and an average price target of $45.33.
Nordstrom, Inc. (NYSE JWN) opened at $45.78 on Friday. Nordstrom, Inc. has a 1-year low of $37.79 and a 1-year high of $61.77. The company has a market capitalization of $7,626.12, a PE ratio of 14.67, a PEG ratio of 2.59 and a beta of 0.90. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.00 and a quick ratio of 0.30.
Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 EPS. sell-side analysts forecast that Nordstrom, Inc. will post 2.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 27th will be given a $0.37 dividend. The ex-dividend date is Friday, November 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.23%. Nordstrom’s dividend payout ratio (DPR) is presently 52.11%.
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Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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